The Houston Corporation

The Houston Corporation and Pipeline Subsidiaries: 750,912 shares of common stock offered by subscription warrants; $4,000,000 aggregate principal amount of bank loans; $15,330,000 first mortgage pipe line bonds 5 3/4% series due January 1, 1982

Transaction Type

Common Stock

Deal Description

The Houston Corporation offered to the holders of its outstanding common stock and class A stock and to the Delhi Unit holders the right to subscribe for additional shares of common stock on the basis of one share for each six share of its common stock or its class A stock held of record at the close of business on December 4, 1961. The company offered to regular employees shares of new common stock, which remained unsubscribed for.